Minimum default threshold for corporate insolvency governs when Part II procedures under the Code become applicable. Section 3(12) defines default as non payment of due debt; Section 4 activates Part II insolvency and liquidation provisions for corporate debtors when the minimum default threshold is reached, subject to Central Government notifications that may raise the threshold or specify separate minima for the pre packaged resolution process under Chapter III A.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Minimum default threshold for corporate insolvency governs when Part II procedures under the Code become applicable.
Section 3(12) defines default as non payment of due debt; Section 4 activates Part II insolvency and liquidation provisions for corporate debtors when the minimum default threshold is reached, subject to Central Government notifications that may raise the threshold or specify separate minima for the pre packaged resolution process under Chapter III A.
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